ZG Stock Recent News
ZG LATEST HEADLINES
Zillow Group's 1Q24 earnings beat estimates, with revenue growing 13% to $529 million. The company has three major growth catalysts: agent solutions, expansion into new markets, and a strong Rentals segment. The potential slowdown in the Residential segment is a concern, but Zillow Group still has attractive upside potential.
US average rent rose to just under $2,000 per month in April, Zillow reports. Tenants now need to earn 36% more than they did in 2019 to afford a typical rent.
This real estate technology company could be hit hard by a changing real estate market.
Zillow Group's stock has declined almost -20% since my first coverage, confirming my sell rating at the time. Share performance has been volatile, reaching an all-time high in 2021 but declining since then as high interest rate environment continued to present headwinds. Strong rental performance may continue to accelerate growth. I upgrade Zillow Group to a buy rating with a 1-year price target of $45.
Online real estate company Zillow (Z) has issued cautious second quarter guidance as first-time homebuyer activity tumbles amid interest rate spikes. Zillow CFO Jeremy Hofmann tells Julie Hyman that the company expects housing to remain roughly flat in 2024 as affordability continues to pose a challenge to homebuyers.
Rising mortgage rates are a headwind for the listings site, the company says.
Despite macroeconomic challenges, Zillow (ZG) reports revenue growth year over year in the first quarter of 2024, backed by healthy traction in all verticals.
The headline numbers for Zillow (ZG) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Zillow Group (ZG) came out with quarterly earnings of $0.36 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.35 per share a year ago.
Investors will watch for how—or whether—changes to commission rules will influence Zillow's future business.